RT @LynAldenContact: If you missed Powell’s speech, that’s okay. He basically said nothing stops this train.

Can we get chamath’s new SPAC to buy 2021 NFT portfolio.

What do you want to know?.

RT @theshikhai: Warming up for @UFBots as the first human vs AI contender of the night

RT @virtuals_vc: Cooking irl in Berkeley 🧑‍🍳 . @Virtuals_io x @LongHashVC

🤣.

Disclaimer: Views are my own. Not financial advice.

Full article here:

8/8 The future?. Some DATs will become validators, DAO voters, and protocol financiers. Others may collapse into zombie wrappers. The investor’s job: separate opportunistic wrappers from long-term builders. DATs aren’t going away - just evolving. 🔁 RT if you’re watching this.

7/8 DATs are more than a bull market wrapper. They reflect the convergence of:.• Crypto as a monetary revolution.• Public equities as a capital formation machine. Done right, they could become Grayscale 2.0 - leaner, more crypto-native, and productive.

6/8 What defines early winners?. 🇯🇵 Jurisdiction: e.g. Japan's cheap debt helped Metaplanet, US's market depth helped Microstrategy. 💰 Access to capital: raise above NAV. 👔 Strong management: crypto + capital markets fluency. 🧠 Productive treasury: staking, lending, governance.

5/8 Case in point: $SBET. @SharpLinkGaming.🚀 June 2: surges to $79 on $450M placement.📉 June 12: crashes to ~$9 after share registration.🔄 Bounces to $40, then settles near $19. PIPE investors entered at $6.15 - still in profit even at $13 NAV. Retail? Often left holding the.

4/8, But it’s not risk-free. DATs face:.• ⚙️ Operational risk (custody, compliance).• 💸 Financial risk (leverage, dilution).• 📉 Market risk (token drawdowns, NAV discounts). Retail often enters at inflated prices - while institutional PIPE deals happen near 1x NAV and their.

3/8 DATs are also leverage capital markets:.Raise fiat via equity or debt → buy BTC/ETH → if shares trade above NAV, raise more → repeat. This creates a reflexive flywheel, compounding treasury growth per share. Key metric: BTC yield - how much BTC each share represents.

2/8 Why do DATs matter?. They solve problems for institutions that can’t hold crypto directly - offering access through equity. And they offer flexible capital structures:.• Common equity.• Preferred shares.• Convertibles. That’s something no ETF or spot token can match.

1/8 DATs are public companies that buy and hold digital assets as their core balance sheet strategy. They’re not software firms or miners - but vehicles for crypto accumulation. Pioneered by MicroStrategy ( @MicroStrategy ), now joined by @Metaplanet_JP (3350.T), @SemlerSci.

Digital Asset Treasury (DAT) companies are one of the most intriguing capital markets phenomena of this cycle. They offer public equity exposure to crypto - mainly BTC & ETH, quickly spreading to long tail token - without the frictions of self-custody, tax, or regulatory.

8/8 The future?. Some DATs will become validators, DAO voters, and protocol financiers. Others may collapse into zombie wrappers. The investor’s job: separate opportunistic wrappers from long-term builders. DATs aren’t going away—just evolving. 🔁 RT if you’re watching this.

7/8 DATs are more than a bull market wrapper. They reflect the convergence of:.• Crypto as a monetary revolution.• Public equities as a capital formation machine. Done right, they could become Grayscale 2.0—leaner, more crypto-native, and productive.

6/8 What defines early winners?. 🇯🇵 Jurisdiction: e.g. Japan's cheap debt helped Metaplanet, US's market depth helped Microstrategy. 💰 Access to capital: raise above NAV. 👔 Strong management: crypto + capital markets fluency. 🧠 Productive treasury: staking, lending, governance.

5/8 Case in point: $SBET. @SharpLinkGaming.🚀 June 2: surges to $79 on $450M placement.📉 June 12: crashes to ~$9 after share registration.🔄 Bounces to $40, then settles near $19. PIPE investors entered at $6.15—still in profit even at $13 NAV. Retail? Often left holding the bag.